January Housing Scorecard Released by HUD, Treasury
Friday, July 29th, 2011 Posted in Uncategorized | No Comments »The Departments of Housing and Urban Development (HUD) and Treasury issued the administration's January Housing Scorecard on Monday. The report is essentially a summary of data on housing and housing finance released by public and private sources over the previous month ...
Post Office Offloads Real Estate; BoA vs. Wells Earnings; Credit Score Disclosure
Thursday, July 21st, 2011 Posted in Uncategorized | No Comments »"If I owned Texas and Hell, I would rent out Texas and live in Hell." So spoke Civil War General Philip Sheridan, who was the military governor of Texas and Louisiana afterwards. Interestingly, currently Texas is doing very well economically, ...
Rumors of mortgage settlement false
Tuesday, July 12th, 2011 Posted in Uncategorized | No Comments »The nation's largest mortgage servicers and a group of attorneys general led by Iowa's Tom Miller won't finalize a settlement this week, as has been reported. "We've been quite reluctant to put any deadline on it," Geoff Greenwood, a spokesman for ...
Banks to Detail Foreclosure Fixes Next Week
Monday, July 11th, 2011 Posted in Micro News | No Comments »U.S. banks will submit plans to federal regulators next week on how they will overhaul their foreclosure practices, even as related settlement talks with states and the Justice Department drag on. Last month, banking regulators delayed ...
BofA loses bid to end nationwide mortgage lawsuit
Thursday, July 7th, 2011 Posted in Uncategorized | No Comments »Bank of America Corp lost its bid to dismiss a nationwide lawsuit accusing it of reneging on promises to help borrowers modify their mortgage loans under a much-criticized federal program. District Judge Rya Zobel in Boston said homeowners who contend they ...
Mortgage Servicers Will Face Suits If Talks Fail, Two…
Thursday, June 23rd, 2011 Posted in Uncategorized | No Comments »June 22 (Bloomberg) -- Banks negotiating with state attorneys general over foreclosure practices would be sued if a settlement isn’t reached, two of the state officials leading the talks said. Illinois Attorney General Lisa Madigan and North Carolina Attorney General Roy ...
U.S. targets poor-performing mortgage servicers!
Sunday, June 19th, 2011 Posted in Uncategorized | No Comments »The Obama administration turned up the heat on three big banks on Thursday to help fight the housing crisis, withholding payments to them under a foreclosure relief program that has had little impact.
BofA mortgage woes do not crimp capital: analysts
Sunday, June 19th, 2011 Posted in Uncategorized | No Comments »Bank of America Corp (BAC.N) will not likely need to raise capital unless it is forced to recognize mortgage losses sooner than expected or is required to boost capital levels faster, a Sanford Bernstein analyst wrote on Monday. But in the ...
Wells Fargo to stop making reverse mortgages!
Friday, June 17th, 2011 Posted in Uncategorized | No Comments »Wells Fargo Home Mortgage said Thursday that it will no longer make so-called reverse mortgage loans, citing unpredictable home values and restrictions that make it difficult to determine if borrowers can afford homeowners' insurance and other financial obligations.
New York banks are trying to be probed further!!
Thursday, June 16th, 2011 Posted in Uncategorized | No Comments »The New York Attorney General has decided to intensify his investigation into local banks. The investigation into Wall Street institutions will look into why poisonous mortgages were sold to investors.
